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The Price of Bitcoin is Up $150 Over the Last Week
As the year comes to a close, the price of bitcoin continues to test the $1,000 mark as it seeks to set a new three-year high.
Par Pete Rizzo
The price of bitcoin keeps on climbing.
STORY CONTINUES BELOW
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At press time, the price of bitcoin was roughly $950 on the CoinDesk Bitcoin Price Index, a figure that was up $20 from the day's opening price and just $70 shy of a three-year high for the digital currency. (The price hit a high of $1,023.31 on 6th January, 2014).
However, this total was notably $150 above the opening price observed one week ago on 21st December, when tokens running on the bitcoin blockchain traded for an average of $799.23 across global exchanges.
The 20% increase over just a seven-day span has so far drawn a number of plausible theories, including that bitcoin is improving on economic conditions in countries such as India and Venezuela and decisions by the US Federal Reserve.
Data reveals that the increase is the largest price swing observed since late July, when the price of bitcoin declined from highs in the $660s to the mid-$500s following a hack on one of the network's most notable exchanges.
Yet, while notable for 2016, the rapid increase is by no means unique to the digital currency.
In late 2013, for instance, bitcoin rose nearly $500 to more than $1,100 from 23rd November to 30th November, before falling below $700 just days later.
Slinky image via Shutterstock; Price chart via CoinDesk
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Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
What to know:
Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
What to know:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
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